Kochi : Opening up huge potential for development in the state, the High Court today gave govt its consent for setting up Kerala Bank in the state.
The govt can now proceed to issue notification for merger of all the district cooperative banks to form a state cooperative bank.
The court dismissed petitions submitted by Malappuram District Banks and a few other cooperative banks , seeking to oppose the merger.
The ruling comes against the backdrop of RBI approval for the bank formation and govt’s plea seeking to go ahead with the project.
Once operational, the Kerala Bank will be the largest banking network in the state.
